Here we gathered the best and the worst performers of the week and the most volatile pairs .
Yuan goes down
On Monday, the Chinese Yuan headed south, while the evergreen buck rallied because US-China relations worsened over the weekend.
The currency pair USD/CNY ascended by 0.1% being worth 6.9445.
Leaders of the Asia-Pacific Economic Cooperation didn’t manage to agree on a communiqué.
China and America failed to agree on whether the reform of the World Trade Organization needs to be in the leaders’ declaration.
American leader Donald Trump didn’t join the gathering as Vice President Mike Pence was present at the event instead of him.
Estimating the US currency’s purchasing power versus its primary rivals the USD index managed to rally by up to 0.1% ending up with 96.5.
On Friday, the Fed’s newly appointed vice chair, Richard Clarida expressed caution over the global surge outlook and told it’s something that will be relevant for the outlook for the American economy.
What’s more, in a separate interview with Fox Business, Federal Reserve Bank of Dallas President Robert Kaplan revealed that he expected a surge deceleration in China and the European bloc.
Besides this, the currency pair USD/JPY stood still coming up with an outcome of 112.75. As Japan’s Ministry of Finance disclosed, in October, the country’s exports managed to soar by 8.2% from the same period of 2017, in contrast with the anticipated 9% surge.
Additionally, the previous week official data disclosed that the Japanese economy went down more than foreseen in the third quarter because of natural catastrophes as well as diving exports.
The currency pairs AUD/USD and NZD/USD decreased by respectively 0.3% and 0.5%.
As for the UK pound, it obtained some residual focus having been under heavy selling the previous week against the backdrop of uncertainties over British Prime Minister Theresa May’s draft Brexit plan.
The currency pair GBP/USD hit 1.2824, decreasing by nearly 0.1%.
The European Central Bank will meet today to discuss the current monetary policy and the fate of the quantitative easing program
Canada will publish the headline and core retail sales on January 24 at 15:30 MT time.
Canada will publish its monthly GDP growth rate at 15:30 MT on January 31.
The famous pharma giant Pfizer is going to release its earnings report on January 28 at 17:00 MT time.
The Bank of England’s interest rate announcement and monetary report will be out at 14:00 MT on January 30.